Expression of interest: a refundable deposit a builder collects to place a buyer in a queue for an upcoming project, before units are allotted.
How it works and what to check
EOIs are common before big launches. Collecting money for a project that must be registered under RERA before it is registered is not permitted, and some state authorities have acted against it.
If you pay an EOI, get a receipt that states it is fully refundable, by when, and that no unit is allotted until RERA registration.
Common questions
Is an EOI refundable?
It should be, and the receipt should say so. Check before you pay.